ORLANDO, Fla., Nov. 8, 2007 (PRIME NEWSWIRE) -- RedChip Visibility, a division of RedChip Companies, Inc., today announced that it has initiated research coverage on BioSolar, Inc. (OTCBB:BSRC), developer of a breakthrough technology to produce bioplastic materials from renewable plant sources that reduces the cost of photovoltaic solar cells.
BSRC has developed a prototype for a composite material used in solar panel construction with the potential to significantly reduce costs in the solar panel market. The product, a key component of photovoltaic solar panel modules, is made from bio-derived materials, and is expected to sell for 50 percent of the price of current products.
The bio-derived product used for the backsheet component of the solar cell has been submitted to the National Renewable Laboratory for certification. When this approval is obtained, BSRC will be free to market their product to all other manufacturers in the U.S. It is expected that doors will open to the international markets as well because Underwriters Laboratories has reciprocal arrangements with certification groups in Europe and Japan.
Clay Mahaffey, C.F.A., RedChip Research Analyst, reports:
"The economics are so compelling that, if they are confirmed, incumbent producers will be forced to develop similar products or otherwise reduce costs or margins in order to compete. In this scenario, these new products will be adopted rather quickly and achieve significant market penetration. BSRC will quickly gain a small sales position due to their pre-arranged agreements with suppliers, contract manufacturers and customers. A target price of $0.80 is accepted based on the Company achieving the necessary regulatory approvals within 12 months."
To receive a complimentary copy of the RedChip Visibility Initial Research Report for BSRC, please visit:
http://www.redchip.com/visibility/about.asp?page=requestBSRC_initial&from=11082007news
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Disclosures
The analysts contributing to this report do not hold any shares of BSRC. Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. RedChip certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analyst in the report. Additional information on the securities mentioned in this report is available upon request. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change. BSRC is a client of RedChip Visibility, a division of RedChip Companies. BSRC paid RedChip Visibility $30,000 for the RedChip Visibility Research Program, which includes this report. RedChip Visibility has been contracted by BSRC to increase investor awareness of BSRC to the small-cap equity community. These services may include investor conferences and digital and print distribution of BSRC investor related materials. In the purview of Section 17(b) of the Securities Act of 1933 and in the interest of full disclosure, we call the reader's attention to the fact that RedChip was hired by the Company and receives a fee of $45,000 in cash and 250,000 shares of common stock under Rule 144 for six months of traditional investor relations services.